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US nonfuel use propylene supplies drop for eighth straight week
Houston, February 23, 2017 (PCW) -- US nonfuel use propylene inventories fell by 266,000 bbls (8.5%) to 2.868 million bbls, the eighth consecutive weekly inventory draw, the Energy Department reported today. Inventories have not been this low since early October 2016, according to the department's Energy Information Administration. At that time, spot RGP was trading in a range of 29-30 cpp, according to PetroChem Wire, and NYMEX WTI crude futures were around $50/bbl. Upstream, US Gulf refinery utilization last week fell 0.7 percentage point to 84.2%. -- David Barry
|US Nonfuel Use Propylene Inventories|
|4 weeks ago||4,125||-1,257||-30.5%|
|52 week average||3,437||-569||-16.6%|
|Source: US Energy Information Administration|